October 30, 2020

How Are Public Accounting Salaries Stacking Up for 2021? (UPDATE)

[Updated on Oct. 29 with salary data from Accounting Principals. Article was originally posted on Sept. 10.] You know fall is right around the corner when Robert Half releases its latest Accounting & Finance Salary Guide, and the 2021 edition is now available for download. But be warned: Due to everyone’s favorite pandemic, starting salaries […]

Number of the Day: 75%

That’s how many AICPA members are eligible for retirement this year, according to a 2015 exposure draft [PDF] put forward by the AICPA to add “retired” CPA status to the Uniform Accountancy Act. For several years, there has been discussion as to whether or not there should be a Retired-CPA status in the UAA. Currently, […]

EY Poaches Someone From PwC and Issues a Press Release, Part III

EY U.K. is so excited about its recent hire of a former PwC partner that someone in communications actually sent us this message earlier today: I absolutely loved the first two parts of your ‘EY Poaches Someone From PwC and Issues a Press Release,’ To complete the trilogy, I wondered if you’d be interested in […]

KPMG Managing Director Reported Missing By Family; Reward Offered

Alan White, who works for KPMG in Dallas, hasn’t been seen by family and friends since Oct. 22, according to WFAA in Dallas. His family has hired a private investigator and is working with police to look into his disappearance. WFAA reported: A video camera captured Alan White leaving an LA Fitness on Haskell in […]

Yes, You Can Make More Money as a Freelance Accountant or Finance Professional

The pendulum has swung: accountants and finance professionals can make more money—and have wayyyy more freedom—taking on freelance work, especially when compared to a full-time salaried position at a public accounting firm. Just imagine it! Working from home in your pajamas, setting your own hours, taking Netflix-and-nap breaks. No co-workers bugging you with stories of […]

2021 Accounting Internship Programs, Ranked

Hey wannabe public accountants, Vault today released its ranking of the best accounting firms for interns in 2021, and of the 15 firms included, two are in the Big 4 while five others are among the top 15 largest firms in the U.S. More than 11,000 current and former interns were surveyed earlier this summer […]

Which Firm Had the Most IPO Audit Clients In Q3 2020?

There was an explosion of initial public offerings in the U.S. in the third quarter, with 165 companies going public between July 1 and Sept. 30, raising more than $61.5 billion—by far the most active quarter in 2020 and the most active Q3 in the past five years, according to our friends at Audit Analytics. […]

KPMG Must Really Like This Bill Thomas Fellow

Is Bill Thomas the most under-the-radar Big 4 global CEO right now? Everyone knows Bob Moritz, Punit Renjen, and Carmine Di Sibio. But if you don’t work at KPMG, or even if you do, did you even know Bill Thomas is the firm’s head chairman? I just now had to create a Bill Thomas tag for […]

Promotion Watch ’20: Deloitte Adds 195 New Managing Directors

Let’s pass out the cupcakes and green Kool-Aid, and celebrate Deloitte’s new class of managing directors for FY 2021: Bhawna Agarwal, Tax, Deloitte Tax LLP, Jersey City Jon Allred, Audit & Assurance, Deloitte & Touche LLP, Salt Lake City Aaron B. Bairani, Tax, Deloitte Tax LLP, Chicago Melissa Balmer, General Counsel, Deloitte LLP, Stamford Megan […]

Pretty Soon, You Can Take the CPA Exam In Egypt and Jordan

It was way back in August of 2011 when the CPA exam first went international with 1,165 candidates sitting for 2,065 exam sections in Japan, Bahrain, Kuwait, Lebanon, and the United Arab Emirates. Just a year earlier, more than 10,000 international candidates traveled to the United States to sit for the CPA exam, a 22% […]

Wayne Berson Admits He Is Driving Some People Crazy at BDO USA

In a wide-ranging interview with CJ Prince of Chief Executive magazine, BDO USA CEO Wayne Berson used “BDO” and “powerhouse” in the same sentence, said “no one wants to go to the 5th best firm” (you got dissed, RSM US) but “we don’t see ourselves as inferior to the Big Four,” and explained what CLIMB means […]

Florida Gives Deloitte Consulting a Happy Ending

The saga between Florida and Deloitte Consulting—a relationship bizarre enough to be reported by TMZ or covered by Perez Hilton—keeps on keeping on, as the state’s Agency for Health Care Administration is going ahead with Big D on a potential $135 million contract to overhaul Florida’s Medicaid data system, according to the Tampa Bay Times. […]

Question of the Day: Is EY the New KPMG?

For as long as I can remember, KPMG has always been the butt of Big 4 jokes: Big 3 + KPMG, a golf apparel company masquerading as a Big 4 firm, the red-headed stepchild of the profession, always a bridesmaid and never a bride, Scott London, Caleb worked there, etc. But with the whole “pancakes […]

Ding Dong the Open Office Is Dead

… and the ‘Rona killed it. In a Fast Company article this week, we find that the much-hated open office is likely in its death knell, just another victim of that pesky global virus. It’s been embraced for saving money, hated for its lack of sound privacy, blasted for reinforcing sexist behavior, and even cited as a […]

BDO USA Employees Are Getting Their Moolah Back

Late on Friday a couple people told us about some good news for BDOers, especially for those not getting raises this year. Not sure about Audit and other Departments but BDO just announced they would be paying back the salary that was reduced in May – July with the Dec. 15 paycheck. And from the […]

Sigur Rós Isn’t a Huge Fan of PwC or Paying Taxes

“We are musicians, we hired the people who we thought were the best in the world. And he failed us.” — Georg Holm, bassist for the legendary Icelandic post-rock band Sigur Rós, said about the band’s accountant Gunnar Ásgeirsson, who worked at PwC. I’ve got a few Sigur Rós albums on CDs that I burned […]

KPMG Rocks signs held by a woman in a KPMG shirt

Promotion Watch ’20: KPMG Admits 119 New Partners in the U.S.

It was new partner promotion announcement day at KPMG yesterday, and there are 119 individuals in the class of FY 2021 who will do Paul Knopp’s bidding. Speaking of Knopp, the firm’s chairman and CEO exalted the newest members of the club on LinkedIn Tuesday: Each of these talented professionals has demonstrated exceptional professional excellence […]

LOL, Big 4: BDO Now Has the Most Audit Clients In the U.K.

There is no other accounting firm in the U.K. that wants its name mentioned with the Big 4 more than BDO. That firm is like your 7-year-old brother who wants to play street hockey with you and your high school friends after school because he wants to be around and thinks he can compete with […]

Job of the Week: Remote Accountant w/ Sage-Intacct Experience

Going Concern’s Job of the Week features a CPA firm looking for a Remote Accountant with a strong working knowledge of Sage-Intacct and church client experience. If you are interested in this job, we invite you to apply with Accountingfly.  APPLY NOW (updated link) | Accountingfly connects you with virtual accounting jobs with the best […]

Number of the Day: $868,000

That’s how much Canadian companies paid on average in audit fees in 2019, up from $621,000 in 2018, according to a post by our friends at Canadian Accountant, citing research from Audit Analytics: “Since 2007, the average amount of audit fees per Canadian company has continued to increase each year, with the largest increase coming […]

How to Absolutely Kill It at Virtual Recruiting and Interviews

Becker CPA Review wants you to master virtual recruiting and interviews, here’s how you do it. Recruiting season is anxiety-inducing enough in the most normal of times: making small talk, promoting yourself without coming off as self-absorbed, and let’s not even get into worrying about your lunch lingering in your teeth. As Covid drove the […]

Number of the Day: 1,114

That’s how many consultants Deloitte UK has deployed to work on a coronavirus contact tracing project for the UK government. Some other notable numbers: The Department of Health and Social Care (DHSC) has engaged the services of other consultants from McKinsey, BCG, PWC, KPMG and EY as well however the number of consultants from all […]

Accountants Behaving Badly: Get a Load of This Clown

A Minnesota accountant was sentenced last week for stealing from his client and is now on the hook to pay back $355,000. The StarTribune reports: A Duluth accountant says he will pay back more than $355,000 he stole from two local businesses, including the Duluth Area Chamber of Commerce, after pleading guilty on Monday to […]

Happy Birthday, Microsoft Excel!

Thirty-five years ago this week, Microsoft Excel was born. Which means if you were born prior to 1985 you lived in a world without Excel. Unless you were born much earlier than 1985 chances are you didn’t even notice. 35 years 🥳 pic.twitter.com/YFXTJZ4npl — Microsoft Excel (@msexcel) September 30, 2020 Of the great inventions of […]

Let’s All Shed a Tear For Deloitte Partners In the U.K.

Sadly, Deloitte partners are probably going to have to put off buying that new McLaren 720S or Mercedes-Benz S-Class until next year. The Times reported today: Partners at Deloitte are in line for a 17 per cent pay cut after revenue growth slowed during the Covid-19 pandemic. The 709 equity partners of Deloitte’s British arm […]

Layoff Watch ’20: It’s Pink Slip Day at KPMG

[Updated on Sept. 30 with additional information.] Two days before the start of KPMG’s 2021 fiscal year, massive layoffs unfortunately occurred at the firm on Tuesday. We received confirmation that 1,400 people, less than 4% of KPMG’s workforce, would be notified this afternoon that they no longer have a job with the firm. In a […]

Wirecard Drama of the Day: EY … Y U No Listen to Whistleblower?

A new Financial Times report once again makes EY look completely incompetent as the auditors of the ill-fated German payments company Wirecard: EY was warned in 2016 by one of its own employees that senior managers at Wirecard may have committed fraud and one had attempted to bribe an auditor. The revelation that an EY […]

CliftonLarsonAllen’s Leadership Pays Up

We heard some good news late on Friday for those serving the capital markets at CliftonLarsonAllen. From the tipline: Lost wages are planned to be paid back to all employees therefore making all employees whole for 2020. This will happen as of Oct. 19, our tipster added. It’s been an interesting six months for CLA […]

How Are Big 4 Firms Stacking Up on Work-From-Home Benefits?

Unless you were one of the few who had the foresight to deck out your crib in multiple monitors just before SHTF this past spring, you’ve probably needed to improve your WFH set up just a bit in the months since. And because a large portion of this website’s entire purpose is serving as Steve […]

Grant Thornton’s Revenue Barely Moved the Needle In FY 2020

Because of the coronavirus pandemic, the petals on the Purple Rose of Chicago wilted some this year. Despite reporting a record high $1.92 billion in revenue for the fiscal year that ended on July 31, Grant Thornton’s revenue only increased 1% in FY 2020 over last year’s $1.9 billion. CEO Brad Preber commented: “Our success […]

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Layoff Watch ’20: Apparently It’s Doomsday for Some at EY (UPDATE)

[Updated on Sept. 23 with additional information.] EY management stuck to their narrative today that the recent layoffs at the firm aren’t layoffs but performance-based separations that were justified, even though many of those who have contacted us after losing their jobs said they weren’t on any type of performance improvement plan. First, before EY […]

Terrible Manager Thinks Constant Employee Surveillance Equals Work-Life Balance

In this still-new world of virtual work for office drones everywhere, it’s inevitable that some people find the adjustment to work-from-home harder than others. For some people, their issues revolved around muddy work schedules and a crumbling routine. For others, however, work-from-home exposed one basic fact that has probably been known for quite some time […]

Marcum CEO Wants to See Those Cube Farms Filled on Oct. 1 (UPDATE)

[Updated on Sept. 23 with additional information.] Thanks to two sources, here’s the email Marcum CEO, Chairman, and Going Concern bestie Jeffrey Weiner sent to employees on Sept. 14 about expectations for returning to the office: Stay-at-home orders were put into effect in March as a response to the COVID-19 pandemic. Most businesses and schools […]

Wirecard Drama of the Day: EY Is Bleeding Audit Clients In Germany

Earlier this month, Commerzbank, Germany’s second-largest lender, and DWS Group, Deutsche Bank’s asset-management arm, both decided against using EY Germany as their auditor because they were freaked out by how bad this Wirecard accounting scandal has become. This was followed by EY Global Chairman and CEO Carmine Di Sibio sending a letter to clients, expressing […]

Uh-Oh, This Isn’t Looking Good for KPMG U.K.

From Reuters today: Britain’s accounting regulator said it has delivered its initial report into KPMG’s audit of builder Carillion, an indication that apparent rule breaches have been found. The construction company’s collapse in 2018 angered lawmakers who called on the Competition and Markets Authority to consider breaking up top accountants to increase competition and auditing […]

Deloitte Consulting Is Irresponsible, Lacks Integrity, and Is Unreliable, Says Accenture

“[The Florida Agency for Health Care Administration] ignored information that, by its nature, would be expected to have a strong bearing on whether the intended awardee is ‘responsible,’ that is, whether it has the capability in all respects to fully perform the contract requirements and the integrity and reliability that will assure good faith performance.” […]

Layoff Watch ’20: EY Canada Job Cuts Are Underway (UPDATE)

[Updated on Sept. 15 with additional information.] While EY in the U.S. is continuing to tell people in its tax, risk, and assurance practices that their services are no longer needed, we’ve been told that a second round of layoffs has begun in Canada, particularly in Ontario. A source said: Another round of firings has […]

CPA Exam Scores Are Coming Early But There’s a Catch

Good news, y’all. Although the next CPA exam score release was supposed to be September 16 (that’s this Wednesday for those of you who have lost all sense of time these days), NASBA announced today that scores will be released tonight, September 14 at 9 p.m. Central. #CPAExam candidates: The scores for the scheduled September […]

An Open Letter to EY Management

Ed note: An EY employee who wished to remain anonymous asked us to post this letter to EY management regarding the recent layoffs at the firm because “management tends to ignore our questions when we raise them internally.” Here is the letter: Integrity and honesty are the foundations of public accounting. With great trust, the […]

Promotion Watch ’20: EY Canada Adds 20 New Partners and Principals

Because we recognized the newest partner classes at PwC Canada (under somewhat shady circumstances) in July and Deloitte Canada yesterday, we thought we’d do the same for the brand-new rainmakers at EY Canada. EY’s new partner/principal class is the smallest of the three firms, coming in at 20. Here are a couple other stats of […]

Promotion Watch ’20: Deloitte Canada Admits 125 New Partners

We hope you guys aren’t tethered to your desks today and are enjoying your Labor Day. Today is also Labor Labour Day in Canada, and we hope our friends to the north are also enjoying a relaxing day away from the grind. We’re pretty certain the newest partners at Deloitte Canada aren’t cracking open their […]

The PwC Pillow Has More of a Life Than You Do

Tim Ryan must be taking his favorite pillow camping this Labor Day weekend: View this post on Instagram How are you spending your Labor Day weekend? I'm going camping! #pillowlife #PwCAllin #pwcpillow A post shared by @ pwcpillow on Sep 5, 2020 at 11:31am PDT You forgot a hashtag, Pillow. #PwCProud Related article: Move Over […]

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It’s Official: Firms Can Now Snag a .CPA Domain For Added Public Trust (Or Something Like That)

In June of last year the AICPA announced it finally managed to convince ICANN — the Internet Corporation for Assigned Names and Numbers — to let it manage the .cpa domain, citing consumer trust in an increasingly dangerous internet landscape. After all, you wouldn’t want Certified Parking Attendants or Citizens of Pennsylvania hijacking that all-important […]

Promotion Watch ’20: Marcum Admits 20 to Partnership

Marcum Chairman and CEO (and Going Concern’s biggest fan, so we’re told) Jeffrey Weiner deified 20 new partners on Sept. 1. The class of 2020 is larger than last year’s class by four partners, so some obnoxious little virus wasn’t going to stop Weiner & Co. from handing out more golden tickets this year. Here […]

Number of the Day: £44 Million

That is how much the Big 4 firms have been paid to advise the U.K. government on its response to the coronavirus pandemic, according to the Financial Times. In comparison, the three biggest consulting firms—McKinsey, Bain, and Boston Consulting Group—were awarded contracts worth £9.5 million. According to FT: A total of 106 contracts worth £109m […]